Workiva Inc. (NYSE:WK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $24.00 price objective on the software maker’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 9.09% from the company’s current price.
According to Zacks, “Workiva LLC offers a cloud-based and mobile-enabled platform for enterprises to collect, manage, report and analyze critical business data in real time. The company provides solutions for compliance, risk, sustainability and management reporting as well as enterprise risk management. It serves the manufacturing and materials, energy and utilities, financial services, healthcare, media and entertainment, real estate, retail, consumer goods, services, transportation and technology and telecom industries. Workiva LLC is headquartered in Ames, Iowa. “
WK has been the subject of several other reports. SunTrust Banks, Inc. restated a “buy” rating and issued a $24.00 price objective (up from $22.00) on shares of Workiva in a research note on Wednesday, September 20th. Northland Securities restated a “buy” rating and issued a $18.00 price objective on shares of Workiva in a research note on Friday, July 28th. Stifel Nicolaus raised their price objective on Workiva from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, August 18th. Robert W. Baird raised their target price on Workiva from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, September 21st. Finally, BidaskClub lowered Workiva from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.57.
Workiva (NYSE WK) opened at 22.00 on Thursday. The stock’s market cap is $920.17 million. The firm has a 50-day moving average price of $20.09 and a 200-day moving average price of $18.57. Workiva has a 12 month low of $12.15 and a 12 month high of $22.15.
Workiva (NYSE:WK) last released its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. Workiva had a negative return on equity of 13,251.94% and a negative net margin of 18.94%. The company had revenue of $49.40 million during the quarter, compared to analysts’ expectations of $48.37 million. During the same period last year, the business posted ($0.20) earnings per share. The firm’s revenue was up 14.9% compared to the same quarter last year. Equities research analysts expect that Workiva will post ($0.63) earnings per share for the current fiscal year.
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In other news, major shareholder Jerome M. Behar sold 1,289 shares of Workiva stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $20.95, for a total value of $27,004.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Jerome M. Behar sold 36,579 shares of Workiva stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $20.00, for a total value of $731,580.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 488,898 shares of company stock worth $9,884,314. 33.29% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Workiva by 12.4% in the second quarter. Vanguard Group Inc. now owns 1,336,468 shares of the software maker’s stock worth $25,459,000 after acquiring an additional 147,450 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in Workiva by 34.1% during the second quarter. Frontier Capital Management Co. LLC now owns 486,707 shares of the software maker’s stock worth $9,272,000 after buying an additional 123,887 shares in the last quarter. State Street Corp lifted its position in Workiva by 12.3% during the second quarter. State Street Corp now owns 371,323 shares of the software maker’s stock worth $7,074,000 after buying an additional 40,657 shares in the last quarter. Northern Trust Corp lifted its position in Workiva by 12.0% during the second quarter. Northern Trust Corp now owns 279,409 shares of the software maker’s stock worth $5,323,000 after buying an additional 29,936 shares in the last quarter. Finally, Spark Investment Management LLC lifted its position in Workiva by 234.8% during the second quarter. Spark Investment Management LLC now owns 235,700 shares of the software maker’s stock worth $4,490,000 after buying an additional 165,300 shares in the last quarter. 32.18% of the stock is currently owned by hedge funds and other institutional investors.
Workiva Inc provides enterprises with cloud solutions for improving productivity, accountability and insight into business data. The Company created Wdesk, a collaborative work management platform for organizations to collect, link, report and analyze their business data. Wdesk’s word processing, spreadsheet and presentation applications are integrated and built upon a data management engine, offering synchronized data, controlled collaboration, granular permissions and a full audit trail.
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